“Reaching this special milestone alongside our friends at Visa Europe reinforces that this commitment is as strong as it's ever been. I'm proud to stand alongside Peter Ayliffe and celebrate our collective commitment to supporting the evolution of contactless payments and technology in the UK.”

Peter Ayliffe said: "I'd like to congratulate MBNA on this significant achievement. Just like MBNA, Visa Europe strongly believes in the value of contactless payments. So much so that by 2020, I expect the world of payment to have developed so much that half of all transactions over our network will be through a mobile device.

“However, this vision can only be achieved with solid partnerships, so we will continue to work with MBNA and all of our valued partners in the new world of payments to help consumers appreciate the ease, security and value of contactless payments, whether they're made through a card or a phone.”